Pizza Pizza Royalty Income Fund Announces Second Distribution

TORONTO, Aug. 12 /CNW/ - Pizza Pizza Royalty Income Fund (the "Fund")
(TSX: PZA.UN) announced today a cash distribution of $0.0667 per unit for the
period from August 1, 2005 to August 31, 2005. The distribution will be
payable to unitholders of record at the close of business on August 31, 2005
and will be paid on September 15, 2005.
For the quarter ended June 30, 2005, Pizza Pizza Limited ("Pizza Pizza")
system sales were $83.4 million, or an increase of 4.7% when compared to the
same period in 2004; for the June 30, 2005 quarter, same store sales growth
(SSSG) increased by 4.1% when compared to the same period in 2004. Each Pizza
Pizza reporting quarter contains 13 weekly periods. For the four week
reporting period ended July 31, 2005, system sales were $25.9 million; SSSG
increased by 7.5% when compared to the same period in 2004.
The Fund is an open-ended trust established under the laws of Ontario.
The Fund will make monthly distributions of its available cash to holders of
units. The Fund indirectly owns the trade marks, trade names and other
intellectual property used in connection with the Pizza Pizza(R) restaurants
in Canada, and has licensed these rights to Pizza Pizza in consideration for a
royalty equal to 6% of system sales from the Pizza Pizza restaurants included
in the royalty pool from time to time.

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